Brokerages Set Bloom Energy Corp (NYSE:BE) PT at $9.67

Bloom Energy Corp (NYSE:BE) has received an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.67.

BE has been the topic of several analyst reports. ValuEngine lowered shares of Bloom Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Zacks Investment Research lowered shares of Bloom Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Raymond James lowered shares of Bloom Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, February 20th. They noted that the move was a valuation call. Finally, KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Thursday, February 13th.

In other Bloom Energy news, COO Susan Seilheimer Brennan sold 2,745 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.45, for a total transaction of $31,430.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Randy W. Furr sold 8,400 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.50, for a total transaction of $96,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 760,297 shares of company stock worth $5,189,218. Insiders own 36.45% of the company’s stock.

Large investors have recently modified their holdings of the business. State Street Corp grew its holdings in Bloom Energy by 5.4% during the 3rd quarter. State Street Corp now owns 1,037,483 shares of the company’s stock worth $3,372,000 after acquiring an additional 52,947 shares during the last quarter. Sheets Smith Wealth Management lifted its position in Bloom Energy by 82.7% during the 4th quarter. Sheets Smith Wealth Management now owns 32,417 shares of the company’s stock valued at $242,000 after purchasing an additional 14,674 shares during the period. Squarepoint Ops LLC acquired a new position in Bloom Energy during the 3rd quarter valued at about $563,000. Millennium Management LLC lifted its position in Bloom Energy by 363.9% during the 3rd quarter. Millennium Management LLC now owns 2,319,524 shares of the company’s stock valued at $7,538,000 after purchasing an additional 1,819,524 shares during the period. Finally, FLC Capital Advisors lifted its position in Bloom Energy by 29.7% during the 4th quarter. FLC Capital Advisors now owns 15,950 shares of the company’s stock valued at $119,000 after purchasing an additional 3,650 shares during the period. 38.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BE traded down $0.01 during trading hours on Friday, hitting $10.74. The stock had a trading volume of 2,623,222 shares, compared to its average volume of 3,353,503. The company’s fifty day moving average is $9.79 and its two-hundred day moving average is $6.17. Bloom Energy has a 52 week low of $2.44 and a 52 week high of $16.63. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.26 and a beta of 4.11.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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Analyst Recommendations for Bloom Energy (NYSE:BE)

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